Ann: 10 Year Plus Outlook for Simberi, page-2

10 May 2024

St Barbara’s 10 Year Plus Outlook for Simberi

Highlights

• Total gold production of 2.0 Moz
• Average annual gold production rising from 70 to 75 koz in FY25 to FY27 to 230 koz through to FY34
• All-in Sustaining Cost (AISC) decreasing to US$1,000 to US$1,200/oz from FY28 to FY34
• Expansion Growth Capital estimated at US$213 million (-20/+30% Class 5 Estimate) across FY26 to FY28

o Assuming 3.7 Mtpa Saleable Concentrate Flowsheet option
o Additions to existing circuit: new Ball Mill, Flotation Circuit, Concentrate Shed and Wharf upgrade

• Pre-Expansion Growth Capital of between US$40 million to US$55 million across FY25 to FY27

o Studies and Designs, New Sizer, Camp upgrade, RO Plant and miscellaneous improvements

• Simberi Mine Plan exceeds 10 years

o 81% Measured and Indicated Mineral Resource (less than 19% Inferred Mineral Resource)
o No Exploration Targets included
o Management proposing 8,000 plus metre diamond drilling campaign in FY25

• Minimal commitment of growth capital to Nova Scotia Projects before Simberi Expansion completed

o pending signs of an improved outlook for permitting and regulation from Nova Scotia Department of
Environment and Climate Change (NSECC)